Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] [The following information applies to the questions displayed below.) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $370,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 110,000 shares of the common stock at $52 cash per share. b. Reacquired 22,000 shares at $47 cash per share. c. Reissued 8,500 shares from treasury for $48 per share. d. Reissued 8,500 shares from treasury for $46 per share. PA11-1 Part 2 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 Record the issuance of 110,000 shares of common stock with a $5 par value for a price of $52 per share. Note: Enter debits before credits